BUILDING TOGETHER A SEA OF TRUST

BOURBON - Roadshow

A p r i l 2 0 1 4

2 April 2014

This document may contain information other than historical information, which constitutes estimated, provisional data concerning the financial position, results and strategy of BOURBON. These projections are based on assumptions that may prove to be incorrect and depend on risk factors including, but not limited to: foreign exchange fluctuations, fluctuations in oil and natural gas prices, changes in oil companies investment policies in the exploration and production sector, the growth in competing fleets, which saturates the market, the impossibility of predicting specific client demands, political instability in certain activity zones, ecological considerations and general economic conditions.

BOURBON assumes no liability for updating the provisional information based on new information in light of future events or any other reason.

DISCLAIMER

3 April 2014

SUMMARY

Introduction to BOURBON 4-14

2013 Annual Results 15-26

Strengthening our position further 27-35

Outlook 36-42

Appendices 43-56

3

4 April 2014

I n t r o d u c t i o n t o B O U R B O N

5 April 2014

Servicing offshore oil & gas industry

5

MARINE SERVICES MARINE SERVICES

MARINE SERVICES

MARINE SERVICES

MARINE SERVICES

SUBSEA SERVICES

SUBSEA SERVICES

Terminal tugs – dedicated to assistance and operations on offshore oil and gas

terminals

Assistance and salvage tugs – dedicated to preventing wrecks, assisting and salvaging vessels in distress, and fighting pollution risks.

AHTS (Anchor Handling Tug Supply vessels) – ensure the implementation and maintenance of oil and gas platforms.

Crewboats – FSVIV (Fast Support and Intervention Vessels) for emergency supplies and the

transport of emergency service teams, and surfers for the

transport of staff to oil & gas

platforms.

PSV (platform supply vessels) – supply equipment and special products to offshore platforms.

IMR Vessels – support for subsea operations and surface interventions, and Inspection, Maintenance and Repair operations in ultra-deepwater oil fields.

ROV (undersea robots) – conduct a broad range of Inspection, Maintenance and Repair operations on Subsea structures.

6 April 2014

A unique investment strategy– BOURBON 2003-2013

112 offshore vessels (end 2002)

484 offshore vessels*

(end 2013)

1 000 employees (end 2002)

> 11 100 employees (end 2013)

3 customers = 76% 2002 revenues

5 customers = 49 % 2013 revenues

145

1 312

20022003200420052006200720082009 2010 2011 2012 2013

Revenues (in €m) Σ offshore capex: €4.8 bln

Afrique revenues breakdown 85% in 2002

Afrique revenues breakdown 57% in 2013

* Vessels operated by BOURBON (including vessels owned or on bareboat charter)

0

50

100

150

200

250

300

350

400

450

500

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Number deliveries

Total Crew + FSIV

Total Supply

TOTAL FLEET

Number of vessels

7 April 2014

A modern and standardized fleet in line with market needs,

▌ Modern fleet

484 vessels in operation

6.2 years average age

52 vessels on order

▌ Investment strategy: Standardization

High manoeuvrability: DP2

Energy savings: Diesel Electric

Construction in series

* Figures as at 12/31/2013, excluding Crewboats

81% of the fleet* fully aligned with the BOURBON investment strategy

BE 502 on sea trials

8 April 2014

SUBSEA DEEPWATER SHALLOW WATER CREWBOATS

FLEET 10 BE 800 18 GPA 670 20 B Explorer 500

37 B Liberty PSV 74 B Liberty AHTS

40 Surfer 140 142 Surfer 1800

COMMON EQUIPMENT

TRAINING 2 offshore simulators

8 Surfer simulators

REPAIR & MAINTENANCE

SPARE PARTS PLUG & PLAY / SHOW STOPPERS

Benefits of standardization

B. Black Sea B. Docking B. Sourcing & Trading

6 Repair Centers 15 Shipmanagers

KW662 KW1235 KW1825 KW2000

9 April 2014

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

GPA 670GPA

670MACS BE 500

BL 100 BL 150

BL 200 BL 300

P 105 – PX 105

BE 800

Innovation - Determination - Implementation

BOURBON: key drivers to master growth

10

12

18 + 20

22 + 15

54 + 20

10 April 2014

Contractors 7%

National Oil 28%

Independents 19%

Major 37%

Others 8%

West Africa 36

Asia 25

Mexico/ Brazil

14

Mediterranean/Middle East

25

Bourbon Liberty Series

A list of demanding customers throughout the world

A performance recognized by customers A global presence

Bourbon Kaimook (BL 301) in Asia Bourbon Liberty 203 in the UAE

Dec 2013 Number of vessels Dec 2013

11 April 2014

11

OSV Market bifurcates at fast pace

Source : IHS Petrodata – August 2013

0

10

20

30

40

50

60

70

80

90

100

Utilis

atio

n %

OSV global utilisation by build age compared to Bourbon fleet

Built in 1991 and earlier

Built in 2005 and later

BOURBON

12 April 2014

A diversified list of demanding customers

12

46%

17%

16%

21%

SUPER MAJORS NOCs

Other International Oil Cos, Independents Contractors

13 April 2014

2008 2009 2010 2011 2012 2013

0.10

0.48

1.12

2.28

0.65 0.64

0.07 0.05 0.10

0.22

0.64

0.70

0.67 0.68 0.69 0.48

Safety results among the best in the industry

TRIR target by year

TRIR: total recorded incidents rate per million hours worked on a 24/7 basis

LTIR: lost time incidents rate per million hours worked on a 24/7 basis

13

45.3 million hours worked in 2013

0.10 0.07

0.69

0.75

14 April 2014

BOURBON – Contractualization as of December 31, 2013

Contractualization rate

Average residual term of firm contracts

Average residual term including options

Deepwater offshore vessels 77.8 % 11.8 months 22.3 months

Shallow water offshore vessels

77.1% 12.3 months 18.4 months

Crewboats 71.6 % na na

IMR Fleet 66.7 % 13.9 months 21.5 months

15 April 2014

2 0 1 3 A n n u a l R e s u l t s

16 April 2014

▌ Revenues of €1.3 billion (+13.1% at constant exchange rates)

▌ Impact of exchange rates on the second half (particularly €/$)

▌ Improved profitability, particularly in Shallow water offshore

▌ 38 vessels added to the fleet and disposals of 31 vessels for US$770 million; bareboat chartering of 26 vessels

▌ Unrealized gain above €900 million on the fleet as at December 31, 2013

▌ Strong, positive free cash flow: €450 million and net debt reduction: €320 million

▌ Returns to shareholders: proposed dividend of €1 per share

Improved profitability and stronger financial position

17 April 2014

80

100

120

140

Price per barrel (US$)

A stable and still favorable environment

112 109

2012

Oil & Gas investments

Source: Rystad Energy research and analysis 2013 2011

111

CAGR 2013-2018

8%

18 April 2014

36% 37%

2012 2013

27% 32%

2012 2013

38% 42%

2012 2013

29% 29%

2012 2013

Strong improvement in profitability of Shallow water offshore

361 392

2012 2013

337 376

2012 2013

275 297

2012 2013

190 223

2012 2013

+8.5% +11.7% +8.2% +17.5%

+0.9 pt + 4.3 pts -0.1 pt

+3.6 pts

Deepwater offshore Shallow water Offshore Crewboats Subsea

Revenues

EBITDAR excl.

capital gains / Revenues

In millions of euros

19 April 2014

€53 million in exchange losses in 2013, 65% of which unrealized

-14.9

8.9

-8.7

-18.9

-5.1

-29.4

-15.7

20.4

11 2.6

-0.5

-18.2

-60

-50

-40

-30

-20

-10

0

10

20

30

40

H1 2011 H2 2011 H1 2012 H2 2012 H1 2013 H2 2013

Realized Unrealized

In millions of euros

Σ realized 2011-2013 = (€0.4 million)

20 April 2014

▌ Fleet concerned: recent supply vessels, with a well-established standard

▌ Double operation

Sale of vessels at market price of US$2.5 billion

Bareboat chartering of the same vessels for 10 years

▌ For these customers, fleet availability ensured and operating standards maintained for 10 years

▌ Sales made gradually, at the rate of delivery from the shipyard

Active fleet management: Transforming for beyond

21 April 2014

«Transforming for beyond » : Target US$2.5 billion

2500

850

1500

150

Target set Signed with ICBCL Signed with SCB Agreements to be concluded

US$1,650 million already signed as at March 5, 2014

With the Chinese company ICBC Leasing: 51 vessels for an amount of US$1.5 billion

With Standard Chartered Bank: 6 vessels for an amount of US$150 million

22 April 2014

Compliant vessels Partly compliant vessels Non-compliant vessels

Target: sale of 30% of the supply vessel fleet by 2015

Transforming for beyond: US$925 million already received to date**

Vessel disposals and bareboat chartering

(10 years)

With ICBCL 33 vessels already sold US$860 million received

With SCB 3 vessels already sold US$65 million received

*Conformity to standards of BOURBON: Diesel Electric propulsion, Dynamic Positioning class 2 ** as of March 5, 2014

23 April 2014

Simultaneously, sale of vessels only partly compliant with the BOURBON technical standards …

Compliant vessels Partly compliant vessels Non-compliant vessels

Vessel disposals and bareboat

chartering (5 years)

With Pareto 2 vessels US$130 million received

24 April 2014

Compliant vessels Partly compliant vessels Non-compliant vessels

… and sales of old vessels

Sale of vessels

Sales to other shipowners 5 vessels US$53 million received

25 April 2014

Strong positive free cash flow* at € 450m

-500

-250

0

250

500

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

* Free cash-flow: Cash flows linked to operating activities – outflows linked to purchases of property, plant and equipment and intangible assets + inflows linked to disposals of property, plant and equipment and intangible assets

In € millions

26 April 2014

1,750 1,765

1,955 2,061

1,741

0

2

4

6

8

10

0

2400

2009 2010 2011 2012 2013

Dette nette Dette Nette/EBITDA

€449 million reduction in debt since June 30, 2013

(€ millions)

Net debt June 30, 2013

2,190

27 April 2014

Proposal of a 34% increase for 2013

0,75 0,68

0,74 0,74 0,75 0,75

1

2007 2008 2009 2010 2011 2012 2013

(€)*/share

Dividend per share

+34%

* Adjusted for bonus shares granted

28 April 2014

S t r e n g t h e n i n g o u r p o s i t i o n f u r t h e r

29 April 2014

A leader in offshore maritime services: a global presence

Changes vs 12/31/2012 (in number of vessels)

North Sea: 7 Supply vessels France: 8 Supply vessels

and tugs

South East Asia

32 Supply & Subsea vessels 20 Crewboats

+10

Mediterranean Middle East – India

39 Supply & Subsea vessels 4 Crewboats

+9

Americas

31 Supply & Subsea vessels 23 Crewboats

+1

West Africa

95 Supply & Subsea vessels 225 Crewboats

+9

TOTAL 212 Supply & Subsea vessels 272 Crewboats

30 April 2014

* Proportion of employees working in their region of origin

Committed teams with strong local ties in Latin America, Africa and Asia

88%

58% 42%

83%

1,538

5,862 1,492

Employees

Americas

Africa

Asia

11,149 people

76%

24%

2,257

Europe Mediterranean

Middle East

▌ Local content* reached 70% in 2013

▌ 167,000 hours of professional training delivered in 2013

Europe 35%

Asia & Pacific 21%

America 13%

Africa 31%

BOURBON

12%

17%

31 April 2014

94.5% fleet technical availability rate

2.9 2.7

2.1

1.6

0

1

2

3

Operational downtime

2010 2011 2012 2013

In %

38 36

31

27

0

5

10

15

20

25

30

35

40

Statutory maintenance

2010 2011 2012 2013

Nr. of days / DD

An ever more reliable fleet, in line with our objectives to reach 95% technical availability in 2015

Average for the BOURBON fleet, excluding Crewboats

32 April 2014

$12,000

$13,000

$14,000

$15,000

$16,000

$17,000

$18,000

$19,000

$20,000

50

60

70

80

90

100

H1 2011 H2 2011 H1 2012 H2 2012 H1 2013 H2 2013

Average daily rate in US $ Utilization rate in %

In US $ %

2011 2012 2013

92%

87%

Solid indicators in a growing market

Data for the Deepwater offshore and Shallow water offshore segments and for the Subsea business

In % Stable utilization rates and rising prices

33 April 2014

Discipline in managing costs

Operating costs

Investment costs

Construction in series

Standardization of equipment

Optimization of order timing

Reduce our costs to reduce our customers' costs

Crew

Maintenance Dockings

Others

Operating cost index

2012 2013 2015

Total fleet 106.5 104 96

34 April 2014

Operating vessels Average

age Vessels on

order TOTAL

wholly-owned

on bareboat charter

TOTAL

Total Marine Services 439 27 466 6.3 45 511

Deepwater offshore vessels

65 7 72 8.5 19 91

Shallow water offshore vessels

102 20 122 4.7 15 137

Crewboats 272 - 272 6.3 11 283

Total Subsea Services 16 2 18 5.7 7 25

Fleet TOTAL 455 29 484 6.2 52 536

ROV 12 4.9 0 12

Key factors– Fleet as of December 31, 2013

35 April 2014

Number of vessels (including vessels under construction as part of the agreement signed with ICBCL)

Valeur in €m (excluding

financial costs)

Deliveries H1 2014

Deliveries H2 2014

Deliveries H1 2015

Deliveries H2 2015

TOTAL

Deepwater offshore vessels

3 6 6 4 19

€61m €123m €127m €85m €396m

Shallow water offshore vessels

11 4 15

€146m €46m - - €192m

Crewboats 8 3 11

€23m €17m - - €40m

IMR vessels 3 2 2 7

€135m €90m 90 M€ - €315m

25 15 8 4 52

€365m €276m €217m €85m €943m

Expected deliveries

36 April 2014

BOURBON new objectives

Average yearly revenue growth 17%

EBITDA /revenues (in 2015)

45%

EBITDA/ACE (in 2015)

20%

Running cost index at constant rate (in 2015)

- 4%

Investments plan US$ 2 bn

Revenue growth Yearly guidance

2014 8-10%

EBITDAR/revenues (single new KPI)

Slight increase for next year

EBIT/ACE In substitute of

EBITDA/ACE

Debt ceilings in 2015 of 2x EBITDA and 0.5 equity

Investments plan Opportunistic

37 April 2014

O u t l o o k

38 April 2014

Outlook for Oil & Gas offshore market

Mid & deepwater E&P expenditure 2010-2020 USD billion nominal

Shallow water E&P expenditure 2010-2020 USD billion nominal

Demand for oil and gas is expected to grow 1.4% per annum over the 2013-2020 period

Source: Rystad

Average growth in expenditures (investment & operation) on mid and deepwater offshore of 10% per annum over 2013-2018 period

Average growth in expenditurse (investment and operation) on shallow water offshore of 7% over 2013-2018 period

Favorable to demand for offshore vessels

+ 7% per annum

+ 10% per annum

39 April 2014

97 vessels on order, i.e. 7% of the fleet in service

28% of the current fleet is over 25 years old and can no longer compete with modern vessels

36 vessels on order, i.e. 11% of the fleet in service

45% of the current fleet is over 25 years old and can no longer compete with modern vessels

AHTS (4,000-9,999 BHP) PSV (1,000-1,999 DWT)

0

10

20

30

40

50

60

H1 2014 H2 2014 H1 2015 H2 2015

Nu

mb

er

of

vess

els

Competition BOURBON

Of which 388 > 25

years old

Current fleet 1,372

0

10

20

30

40

50

60

H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016

Nu

mb

er

of

vess

els

Competition BOURBON

Of which 141 > 25

years old

Current fleet 316

Future deliveries Current fleet Future deliveries Current fleet

Supply of shallow water offshore vessels

Source: IHS Petrodata January 2014

36 on order

97 on order

Growth in the supply of shallow water offshore vessels is low due to the effect of the replacement of old vessels

40 April 2014

Supply of deepwater offshore vessels

AHTS (> 10,000 BHP) PSV (> 2,000 DWT)

0

20

40

60

80

100

120

140

H1 2014 H2 2014 H1 2015 H2 2015 H2 2016+

Nu

mb

er

of

vess

els

Competition

Future deliveries Current fleet Future deliveries Current fleet

Of which 76 > 25

years old

Current fleet 546

59 on order

0

20

40

60

80

100

120

140

H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016+

Nu

mb

er

of

vess

els

Competition > 4kDWT PSV Competition 2-3,9kDWT PSV

BOURBON 2-3,9kDWT PSV

Of which 37 > 25 years

old

Current fleet 901

337 on order

Source: IHS Petrodata January 2014

A growing supply of deepwater offshore vessels characterized by a large number of PSV vessels under construction,

potentially affecting prices in this segment in 2014

59 vessels on order, i.e. 11% of the fleet in service

14% of the current fleet is over 25 years old and can no longer compete with modern vessels

337 vessels on order, i.e. 37% of the fleet in service

4% of the current fleet is over 25 years old and can no longer compete with modern vessels

41 April 2014

Outlook for AHTS and PSV vessels for the BOURBON fleet

Shallow water

Offshore

Deepwater offshore

AHTS

AHTS PSV

PSV

87 vessels with a 73% contractualization rate

5 Bourbon Liberty under construction; the supply/demand balance and success of the series of 74 Bourbon Liberty will help to improve performance

34 vessels with an 85% contractualization rate

7 Bourbon Liberty under construction; a small market in terms of size (316 vessels) in which BOURBON is aiming on long-term contractualization of its fleet

13 vessels with a 68% contractualization rate

BOURBON will not receive any new units in 2014 and 2015; the goal is to improve utilization rates through a higher long-term contractualization of the fleet

31 vessels with a 79% contractualization rate

The 19 Bourbon Explorer 500 under construction are suitable for high growth tropical offshore markets (Asia, India, Africa and South America); the first 6 vessels are contractualized

42 April 2014

▌ Market

10.3% growth in well head installations over the 2013-2017 period

Ageing of subsea equipment implies an increase in demand for IMR vessels. On average, the 5,000 well heads installed are now more than ten years old

▌ BOURBON

Delivery of the BE 803 in the first half contractualized in Asia (Malaysia / New Caledonia)

Sale of the Blue Angel in the 3rd quarter

Increasing Subsea activity in a growing market

Number of vessels in operation 18 vessels

Contractualization rate 66.7% at December 31, 2013

43 April 2014

▌ Demand for offshore vessels sustained by high level of costs in the offshore Oil & Gas sector

▌ From now on, new orders for vessels will be executed as opportunities arise and will not impact revenues before 2016

▌ Outlook for 2014:

Revenue growth of 8% to 10%

slight improvement in operating margin (EBIDTAR/revenues)

▌ BOURBON is committed to reduce its debt and improve its profitability and shareholder return

€449 million reduction in net debt since June 30, 2013

Operating margin increased 2.1 pts in 2013 vs. 2012

Proposed dividend of €1/share, +34% vs. 2012

Conclusion

44 April 2014

APPENDICES

45 April 2014

383 450

2012 2013

1,187 1,312

2012 2013

32.3% 34.3%

2012 2013

Growth and improvement of profitability

EBITDAR (excl. capital gains)

Revenues

+10.5%

+17.6%

€1,312 million

29%

22%

17%

30%

Shallow water offshore

Deepwater offshore

Crewboats

Subsea

Others

€450 million

29%

19%

21% 33%

Shallow water offshore

Deepwater offshore

Crewboats

Subsea

Others

26%

EBITDAR (excl. capital gains)/Revenues

+2.1 pts In € millions

In € millions

46 April 2014

▌ Market

Robust activity driven by a large number of exploration and development projects

Strong demand in the PSV segment

337 Medium and Large PSVs under construction

▌ BOURBON

Delivery of the first Bourbon Explorer 500

Stable fleet with delivery of new vessels and the sale of old vessels

Healthy activity in West Africa, and in Angola in particular

Strong demand for PSVs in Deepwater offshore

Number of vessels in operation 72 vessels, including 3 delivered in 2013

Contractualization rate 77.8% at December 31, 2013

270T Ice Class AHTS under construction in Norway

47 April 2014

$15,000

$17,000

$19,000

$21,000

$23,000

Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013

The Deepwater offshore segment continued to grow all year

An annual utilization rate of 88.9% A well oriented average daily rate

"Deepwater offshore"

Our objective is to maintain a high contractualization rate by securing long term contract at appropriate prices

In US$/d

70%

80%

90%

100%

Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013

87%

92%

48 April 2014

Number of vessels in operation 122 vessels, including 20 delivered in 2013

Contractualization rate 77.1% at December 31, 2013

Increasing investments in Shallow water offshore

BL 320 – 100th BOURBON Liberty

BL 300 in operation during monsoon season in Asia

▌ Market

Good level of activity led by delivery of the next generation jack-ups

The phenomenon of replacing old vessels is continuing, particularly in Asia and the Middle East

Investment is continuing in shallow water offshore with 79 drilling rigs ordered during 2013

▌ BOURBON

Utilization rates increasing despite the delivery of new vessels

Increase in contractualization rates

49 April 2014

$12,000

$13,000

$14,000

$15,000

Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013

Solid indicators improving in Shallow water offshore

70%

80%

90%

100%

Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013

An annual utilization rate of 89.8% Prices impacted by the geographical mix but positively oriented

"Shallow water offshore"

Our objective is to maintain contractualization rate at appropriate prices

87%

92%

In US$/d

50 April 2014

▌ Market

Healthy activity in West Africa in an increasingly competitive market

An active market for the large units, in particular FSIVs (DP 2)

▌ BOURBON

Geographical diversification in the Middle East

Roll-out of the new S19000 in Congo

Crewboats: a competitive segment where service is key

Number of vessels in operation 272 vessels, including 14 delivered in 2013

Contractualization rate 71.6% at December 31, 2013

The Bourbon Shaal, 2nd vessel of a series of 4 FSIV built at the SEAS yards in Vietnam BOURBON Harmattan in Trinidad

51 April 2014

$4,000

$4,500

$5,000

$5,500

Especially in the top of the range for large units

Stable utilization rates for the year at 78.7% for the Crewboat segment

Increase of the average daily price +7.1%

“Crewboats”

Our objective is to increase our utilization rates at appropriate prices

In US$/d

70%

80%

90%

100%

Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013

85%

52 April 2014

$30,000

$32,500

$35,000

$37,500

$40,000

$42,500

$45,000

Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 70%

80%

90%

100%

Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013

"Subsea business"

Our objective is to maintain high utilization rates while continuing to raise prices in a solid market

This is reflected by well oriented utilization and daily rates

Annual utilization rates at 90.2% well oriented average daily rates

87%

92%

In US$/d

53 April 2014

"Transforming for beyond"

: a unique and personalized customer relationship

Real-time tracking of vessel operational performance indicators available to our client (Web Platform): test under way with three of our customers

: means dedicated to the success of our teams

Launch of the second "Safety Takes me home" campaign

Our team commitment rate rose by 8% between 2010 and 2013

: towards operational efficiency at controlled costs

Centralization of group purchasing

Standardization of the vessels' operation and reporting system

54 April 2014

Activity – Key data 2013

Marine Services Subsea Services

Deepwater offshore

Shallow water offshore

Crewboats By Half-Year

By Half-Year

H1 2013 H2 2013 H1 2013 H2 2013 H1 2013 H2 2013 H1 2013 H2 2013

Number of vessels 73 72 109 122 270 272 19 18

Average utilization rate

88.4% 89.4% 89.4% 90.2% 79.3% 78% 89.2% 91.3%

Average daily rate 21,789 $ 22,482 $ 14,078 $ 13,877 $ 5,083 $ 5,270 $ 40,262 $ 42,226 $

Availability rate 94.5% 95.9% 96.1% 96.1% 92.2% 95.29% 92.8% 94.1%

55 April 2014

0

5

10

15

20

25

30

35

1978 1979 1982 1989 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Age profile by operating segment*

Deep Shallow Subsea

BOURBON fleet: average age 6.2 years

* Excludes crewboats

Vessel count: Deepwater offshore - 72 Shallow water offshore - 122 Subsea - 18

56 April 2014

56

Target 2015 95%

93.9 93.6

95.8

92.5 91.7

95.4

96.5

91.9

95.4 96.3 96.3

94.2

93.1

95.5 95.9 96.3

86

88

90

92

94

96

98

100

Subsea Deep Shallow Crewboats

Q1 2013 Q2 2013 Q3 2013 Q4 2013

Availability rate 2012 2013

Fleet total 94,3% 94.5 %

Sharp increase in technical availability rate

Maintenance operation on the Bourbon Thémis and Bourbon Ox at the Abidjan Repair Center

Key factors – technical availability rate

57 April 2014

BOURBON shareholder structure

Shareholder structure* Geographic breakdown

26%

8%

5%

5% 4% 1%

51%

Jaccar Holdings Mach Invest InternationalMonnoyeur SAS Financière de l'échiquierTreasury stock EmployeesPublic

* As of December 31 ,2013 source : Euroclear. CAIES. regulatory filings

52%

39%

3% 2% 2% 1% 1%

France Benelux NorwayUSA Europe Others UKOthers